good to have you with us. i have to say, don't know what your reaction was that as i watched the market take off, i didn't see the strength of the president's words that would warrant such a powerful reaction. >> struck me as a very naive reaction, one that is likely to be reversed as disappointment sets in. if we were to simply go ahead and go off the cliff, we have strong market reaction. the recipe for a recession in my view and one that would not be easily reversed display some people's claims to go backwards somehow. that circumstance of that kind of danger for we have already committed to raising taxes through the health care reform, there is a real premium placed not raising other taxes and getting rid of the mindless cuts across the board, i don't see that falling into place automatically. that is politics over common sense. lou: we're not even hearing discussion of the defense cuts under sequestration. we have heard only some nice but welcomed positive words from the president. are you encouraged the